Unitech, Parsavnath, Omaxe may face CCI probe: Reports

NEW DELHI: Unitech, Parsvnath Developers and Omaxe are likely to face the Director General (DG) investigation in the next one week, according to reports by ET Now.

The Competition Commission of India (CCI) is likely to order probe on Unitech, Parsavnath and Omaxe based on preliminary investigations which suggest abuse of dominant power by the developers.

Several complaints from residents on late delivery of projects and non compliance of agreement by the developers prompted CCI to order the probe.

"We have received some complaints from the residents, but these are mainly for delay of the projects and are not the kinds that come under the CCI purview," said Rohtas Goel, CMD Omaxe, in an interview with ET Now today.

Earlier, CCI had imposed a hefty penalty of Rs 630 crore on DLF Ltd for abusing its dominant market position on a complaint by 'The Belaire' association in Gurgaon.

According to reports, realtors issue advertisements for launching projects without the land in question being actually purchased or registered and without taking prior approval of competent authorities, CCI said.

At the time of ordering investigation by the Director General against DLF last year, CCI had also decided to probe the practice in the real estate sector on the whole.

The Competition Commission of India (CCI) on Tuesday said the Centre as well as state governments should come out with regulatory frameworks for the realty sector to protect consumers from unfair trade practices.